tv The Young Turks With Cenk Uygur Current April 24, 2012 7:00pm-8:00pm PDT
welcome to "the young turks." there is a huge protest as the wells fargo shareholder's meeting today. >> they have signs, people are bull horns are chanting. they are saying that they are going to get inside the meeting and disrupt it. >> called 99% power! i like it. we'll tell you all about it whether it worked or not. and then delaware might be newt gingrich's waterloo. remember the good old days. >> you will bee the nominee? >> i will be nominee. it's very hard to look at the recent polls and not think that
the odds are very high. >> odds not quite as high now. >> and then a rant against the president. >> the rich don't pay their taxes. let me tell you something, right, first they say, united states of america, you can do everybody you want. go for it. so then you go for it and they are like [ censor bleep ]. >> it's go time. ♪ [ theme music ] ♪ >> oh newt gingrich you remember the heady days when he thought he had it locked down. who can forget this incredible quote from him. >> you are going to be the nominee. >> i will be the nominee. >> i can't get enough of that
quote. i will be the nominee. it turns out of course he is disastrously behind mitt romney. and is he going to win new york? no. he is going to win pennsylvania. >> not even close. he is putting all of his eggs in the delaware basket. it's a strategy that hasn't been used very often, because it makes no sense. on april 11th here is what newt gingrich had to say. >> i have been campaigning in delaware all day today, not a single person has asked me to drop out. many have said they are glad i'm staying in. the voters in the states that have not yet voted think it's good to have a contest. this is a washington new york nixation. these are the same people that wanted me to drop out last june. >> maybe they were right. you didn't think about that did
you? well, here is the problem, though, for us who have been doing all of the nay saving against newt gingrich. here comes newt! from way, way, way behind! well, he at least has endorsements in delaware. which is kind of amusing. the former speaker of the delaware house says: okay. fascinating basically every single endorsement that i read and he got a bunch in delaware were all like i can't believe anyone is paying attention to delaware. we're so excited.
but unfortunately for newt delaware might be his waterloo. he said if he doesn't win in delaware or come close he might have to pull out. let's watch. >> [ inaudible ]. >> even newt might have to reassess. delaware has 17 delegates. it's the most comical political strategy i have ever seen in my lifetime, and now he is saying not win it but maybe he'll stay in if he comes close. at a bare minimum you should crush in delaware but it's possible that he won't. nonetheless he continues to have the secret service protection. do you know how much that costs the taxpayers? $40,000. no no no. not $40,000 period. $40,000 a day! a day!
what happened to fiscal discipline? and he doesn't just have the normal secret service, he has the deluxe package. he has six cars, six federal agents, four state troopers and four local agents and one press agent. what in the world do you need six cars for newt gingrich for? okay. well, you know what in the world? he did have a security threat. let's watch. >> i got bit by a penguin. i went to the st. louis zoo. and i got bit by a penguin. >> my bad, newt, i take it back. okay. you never know when those penguins are going to come for you. and by the way he already has the secret service protection. where were all of those agents. it looks like newt gingrich's last day might be today.
and we'll see how that turns out. and then i wanted to also talk about the dog days of this campaign as we head into the summer here because they literally -- some of this is dog days right? because they have this absurd campaign against president obama, but we'll get to that in a second. i wanted you all to have a guidebook for what matters and what doesn't matter. i think some of the controversies are ginned up by the media and some are real. when george w. bush got asked about pakistan people are like that's a got-ya question. george w. bush thought it was a democracy when it was a dictate forship. but that was considered out of bounds, but oftentimes nitpicky stuff is considered inbound.
president obama suffers this a lot. and mitt romney being, you know, and controversy surrounding mitt romney and how he enjoys vacationing in france. >> he understands the french crisis better than anybody else. this is from a press conference yesterday. >> i have a lot of memories of france. the best memories were from my wife from time to time on vacation. the last vacation was walking through paris and around the city -- it is one of the most magnificent cities in the world. >> he does have -- >> in scanton. >> he does have this tendency,
this instinct [ inaudible ]. >> oh come on guys. i don't mitt romney to be the president. he wants to cut taxes on the rich. and talk about -- would it matter if he's president. so a drone policy well that would matter for example. tax policy that would matter. whether he likes vacationing in france would definitely not matter when he is president of the united states if god forbid that were to happen. but that's what our media is obsessed with. his french pronunciation -- they spent five minutes talking about that. it's like who cares. your tax policy is a million times worse. and what should be focused on oftentimes doesn't get focused on. meanwhile shawn henty is trying
to again up the dog controversy. oh my god, the president when he was seven years old was fed dogs. >> what did you think about the revelation that it went viral that in the president's book he admitted eating dog and growing up in indonesia -- >> i'm going to talk about the jobs and -- i just don't think -- >> i love that little thing. oh, gosh oh you are asking me about that. no, no no. i won't talk about it inless you talk about it. so both sides do it. and let's talk about the real issues. a guy who knows about that is a guy who covers politics in a
very epic way. ♪ obviously michael shure is here. will newt drop out if he doesn't win the mighty state of delaware tonight. >> there is another round of primaries in two weeks on may 8th, he has west virginia indiana, north carolina the point is winning delaware doesn't mean nick. >> he wins delaware and it gives him momentum in north carolina. >> he gets to keep his secret service. >> that's, that's probably it. do you agree with the cenk rule? >> a little bit to a certain degree. you talked about romney speaking and using french words when
something fuels an stereo type or image we have of a candidate, then it does help that and it hurts the candidate. so the knock against romney. what is it? the knock against romney is he doesn't know how to relate to the average american and lives in this bubble. this doesn't help that. the people saying the jar dan and luckenberg is where i really like to be. but that doesn't mean he will connect with the voters. >> yeah, i here ya. i think there is a lot better case to prove mitt romney is out of touch other than he has gone to france. >> absolutely. but this just adds to it. >> all right. thank you very much michael, and when we come back we'll talk
about the substance of his education program when we return. >> what are you going to do first? >> i wish i could tell you this is a place to find really cheap you're about to watch an ad message created by a current tv viewer for hershey's air delight. >>mommy, you're so smart, i feel like you know everything. >>you can ask me anything, anytime honey. >>mom, how do you say "hello" in spanish? >>hola. >>hey mommy, how many miles are there to the moon? >>238,854. >>hey mom, are ninjas still a big problem? >>no, honey. >>ha! >>hey mom, how do they get the bubbles into the hershey's air delight? >>i don't know, but it's delicious. >>[both laugh] >>hershey's air delight
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this country has always made a commitment to put a good education within the reach of all who are willing to work for it. that's what makes us special. that's what made us economic super power. that's what kept us at the forefront of business of science, and technology and medicine, and that's a commitment we have to reaffirm today in 2012. [ cheers and applause ] >> that's the president at the university of north carolina chapel hills. he is on a two-day, three-college campus tour. and that's actually one of his best points and one of the policies he delivered the most on. and i love that talking point of hey, listen. in order for everyone to have equality of opportunity, we need
to give them that opportunity through things like education. in fact he emphasized that point again. let's watch. >> this is where you come in. there's one specific thing that congress needs to do right now to prevent the interest rates on student loans -- federal student loans from shooting up and shaking you down. >> he is absolutely right about that. what they did was lowered the rates to 3.4%. if they don't do anything by july it will go back up to 6.8%. so he is saying we got to make sure we keep it at 3.4%. if it is at this rate the average student would have to pay an extra thousand dollars. so that's very real. mitt romney did this whole spiel on education, he forgot to
mention this now that he thinks he is going to towards the general campaign he needs to pander to the young voters as well. so he says this. >> particularly with the number of college graduates that can't find work or can only find work well beneath their skill level, i fully support the effort to extent the low interest rate. >> all of a sudden he agreed with president obama. finally he is no longer right-wing and all of a sudden out of the young! you think we forgot the primaries? we got it on tape man. here is how he answered a students question during the primary. >> yeah i love that. yeah, good luck to you buddy, basically. okay. you have a tough loan.
all the way that high interest rate. who cares get a good job. now that it's the general election, oh i'll cut your rates. i'm an etch-a-sketch no problem at all. but something he said about a specific program president obama took. now the government is taking over the student loan business. i think you get less competition. i would rather have more competition. >> president obama cut out the middleman and saved us a huge amount of money. the way it used to work is the government would guarantee the loans, and they would get everything that the loan needed. the government picked up the tab. it brought the interest rates, et cetera, and then you had the banks who would take money in the middle and give it to the students. they didn't provide anything to
banks. no assurance, no guarantee, no nothing. and when president obama removed this you know how much money we saved? $68 billion. what mitt romney is saying no no, no. i can't believe this. this is a government takeover. how can i not give the my friends at the bank all this money. that is a blatant lie. they want to suck out that $68 billion over 11 years and put it in their pocket. he works for those banks. it's brazen i wish that is the kind of thing people would focus on. finally there was this magical moment in terms of what mitt romney actually thinks about
student loans. >> i wish i could tell you there is a place to find really cheap money and we could pay for everyone's education, but that is just not going to happen. i hope you shopped around. >> that's his answer. you don't have a good loan i hope you shopped around. because my buddies at the banks they have to make the $68 billion. he doesn't give a damn about you. as soon as he crossed that bridge over to the 1% which by the way for him was the minute he was born he wanted to burn the bridge after him. if you want to pay more for education, let's see if you can catch up to him and his buddy. some people are sick of it. fact, in san francisco today at a wells fargo shareholder meeting, a huge protest broke out. we'll tell you about that when we come back.
should do principle forgiveness, stop political lobbying, and they should stop having stock in the geo group, the largest private prison group in the country, apparently wells fargo is involved in it. without the protest we may not known about the details. so they wanted to go to the shareholder s' meeting. did that happen? of course not. >> they have blocked off california as you can see. traffic has stopped on california at montgomery and nothing is moving between montgomery and sampson. they have a mock up of the wells fargo stagecoach they have signs, and people with billion horns are chanting. wells fargo has a said reporters are welcome to come into the
meeting, but we can't bring recording devices with us. >> wells fargo has a long history of doing things that are not procommunity to say the least. the sub prime loans they give to african american communities, they would call them ghetto loans, and went as far as calling african-americans mud people. remember those sub prime loans seemed good in the beginning, but the devil was in the details and exploded on a lot of the homeowners. and that's not all. back in 2003 they paid a $38 million fine for mailing checks without loans, and an $85 million loan in 2012 they were part of a $25 billion settlement to 40 states for foreclosure abuses. this is fraud basically on an
industrial scale, and yet these guys continue to get interest rates at nearly zero percent from the fed. my idea is if you keep committing this kind of fraud, maybe the government shouldn't give you nearly zero percent interest rates. call me crazy. one of the things they were protesting was the tax structure and how little wells fargo pays. between 2008 and 2012 they had u.s. profits of $69 billion. that's a lot of profit. corporate income tax paid minuscule. tax subsidies in effect. $21 billion. where are we subsidizing this company? their effective tax rate was a measly 3.8%. if you live in san francisco, whether you are rich or middle class, you probably pay so much more than a company that claims
to be so grandly profitable that they had to shower their ceo with all of this cash. inside the shareholders' meeting that's what was going on the ceo was getting an $18 million pay package for 2011 and another $16 million for a retirement pension plan. that's a hell of a pension plan. it must be nice. you must think wells fargo did terrific, if he got that kind of money. wells fargo lost 15% of his stock value last year. citigroup is at 10% of its value from before the crisis but still you lose 50% of your stock value and get $34 million for it. gee, i wonder why people are protesting. amazing. and some of the people protesting are the owners of the
company, the shareholders. some tried to get into the meeting and they were shut out. watch. [ shouting ] >> this meeting belongs to us! >> you thought it belonged to you, but apparently owning stock isn't what it used to be. now there are rules that say executives can pay themselves anything they want and the shareholders only get a say that's optional. citigroup shareholders said that the ceo should not get this huge pay package, and the ceo said that's interesting, i'm going to take it anyway. now in this case wells fargo approved this package for their ceo with no problems whatsoever. they said in record time it was approved, of course part of the reasons they shut out the owners that were against it. i'm going to bring in someone here who was part of the
protest. and he has had some personal experience with wells fargo as well. welcome to "the young turks." >> hi how are you today? >> great. first tell me what your group is. >> it is based in the bay area in san francisco, but it is more of a national group. our group along with a few other groups bonded together. >> i love my spanish. all right. wallace what happened with you and wells fargo? >> well i had a -- i bought my home in 1988. i'm a retired school teacher, and i was approached by the -- a mortgage lender and he gave me a $450,000 loan and that
happened to be from wells fargo. it ballooned -- just skyrocketed out of proportion. i mean it went from $450,000 to 850. okay. it was to the point where i couldn't even -- i couldn't live because i couldn't pay the mortgage. i end up selling everything i practically had just to stay above water. i went to wells fargo to try to get them to work with him. i called them. i wrote them letters, but to no avail. so i finally went into bankruptcy, and wells fargo just -- they didn't come to my aide at all. they sold my house on the steps of city hall on february the -- 22nd. >> uh-huh. >> and i'm still -- i'm going to stay in my house.
i'm going to try to work something out with wells fargo, make them do what they are supposed to do. they are displaying families. they displaced my family -- >> wallace let me ask you about the 450 to 850. did you take out additional loans to get it from 450 to 850, or was it the interest rates? what happened? >> it was the interest rates. it just ballooned and the payments kept going up and going up. i went into bankruptcy and they kept adding on and adding on. when i went into bankruptcy the loan was at 650. when i -- before i went into bankruptcy. but once i got into bankruptcy it escalated to almost a million dollars. you know i look at the -- the paperwork from the bankruptcy
courts and there was -- $875,000 is what i owe -- >> because they are adding fees. >> they are adding fees and more fees. >> could you pay the original amount. when it was 450, could you make the payments? >> when i was 450, yeah. that wasn't much of a problem. but then it just escalated. it went on and on and on. >> interesting. when you took out the loan you could pay it. but i also hear that the government is supposed to help you, and the banks are supposed to cooperate in modifying loans, did they help -- did you even have a conversation where they said hey i'm going to try to modify your loan? >> no not with the bank itself. i dealt with -- i went to the
cow palace once, and i tried to work with them there, and -- and get a -- get a -- get a loan or get something done you know. but to no avail. the price of the property was upside down. it was valued at $350,000 and it was $950,000 on the loan itself. so i went to wells fargo to try to get the loan modified to what the value of the property was worth at -- at this time at the present. >> right. >> okay? and like now, it's at $300,000. that's what i paid for the property in 1988. okay. they did help me modify the loan, but not the price of the loan. okay?
the price is still, you know, 850, $950,000. >> right. >> which is -- which is way beyond what the -- the -- the price of the house -- of the value of the house is -- is worth. >> yeah. >> what could i do with a house that my -- i'll never own it. my kids will never own it. my kids kids will never own it. >> wallace i got to leave right there. i hear you because this is the fate of so many people in the country. their mortgage is so much larger than they started with. and they don't get any help. thank you for telling us your story on "the young turks." >> thank you. >> one last thing wells fargo is never going to voluntarily pay more taxes, but one thing is for sure stop giving them interest rates at nearly zero percent when they keep
committing fraud after fraud, and never help anybody modify loans. certainly not nearly what they promised the american people. i'm sick of it. i'm tired of it. and i love there was these protests for wells fargo. when we come back we're going to talk about one of the vp picks, marco rubio. we'l'l'l'l'l'l'l'l'l'l'l'l'l'l'l'l'l'l'l'l'l'l'l'l'l'l'l'l'l we will not settle for easy answers. (vo) the former governor of ny eliot spitzer, joins the new news network. >>every night we will drill down on the days top stories in search of facts that inform. >> we don't stop until we get answers that are truthful, serious, and not based on simplistic answers. >>we're here because we're independent. from silver screens... to flat screens...
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legislators are running scared. very similar laws have passed quietly in other states for the past 10 years, really in the past two years have intensified. pennsylvania a similar law was shelved, idaho this proved to be political poison. women are paying attention and having their voices heard. >> thanks for coming in. >> the aclu considers a demand that to get a job you have to let an employer open your private mail, the senate wants to make it illegal to hand over a password to your facebook account. the newest voice in cable news
is on the new news network. >>it is an independent progressive voice and i love that. >>jennifer granholm joins current tv. a former two term governor. >>people like somebody who's got a spine. >>determined to find solutions... >>we need government to ensure that people have freedom. >>driven to find the truth... >>what's really going on? >>fearless, independent and above all, politically direct. ♪ time for an awesome power panel. andrew is an political reporter for buzzfeed as well as michael shure of course. it appears that mitt romney is trying out different vp possibilities here. that's what the talk of the town
is in terms of marco rubio, and tom misfitzgerald wrote this, quote: and then of course everyone has been asking him about the v.p. possibilities. >> i'm excited about that prospect. if i do a good job as vice president -- i'm sorry. [ laughter ] >> he meant to say senator, and he said he won't take it. i don't mean in terms of substance, but i mean in terms of star power, looks, et cetera is marco rubio the male sarah palin in drawing these crowds? andrew, go. >> i do think he brings a certain dynamic to this that
republican voters really are hoping will be sort of the same thing that barack obama brought to the 2008 democratic primary. i think they are really hoping that he has got this voice that can get in touch with young voters, and people can relate to him in a way that they can't to a mitt romney character. yeah, i think people are hoping he will be able to get crowds excited for the 201 election. >> michael i hate -- if i get a young guy, it may appeal to young people. but unfortunately i think that that's somewhat true. so does it matter that he is young, latino or pretty? >> it matters not at all, because he is running for vice president. nobody votes for the vice president. >> but palin did juice up the crowds -- >> for a little while. and then i think she was a detriment to the candidacy of
mccain. this would be a lot like dan quayle. a lot of people thought dan quayle was selected because he would appeal to women voters. so i liken it to that -- >> that is so sexist -- >> it is but that's what is happening here. there is a gender divide and right now they are thinking we have to appeal to the women voter in america right now, and having somebody that is appealing like marco rubio may do that. >> dan quayle wasn't even pretty -- >> next to the other selections he was. >> i hear you on that. but my understanding is that women do find marco rubio attractive. does that matter at all? i think it does a little bit. i think when the republican party wants to pick someone like marco rubio, i don't know if they are going for the females
as much as the latino voters. i think it sometimes comes off as a gimmick. but i think this might be the election where voters care more about the dream act rather than whether marco rubio is actually dreamy. >> i like that. here is marco rubio, versus another possibility, mitch daniels. all right. about marco rubio versus chris christie. oh, boy. one other thing, president obama left out climate change from his address on earth day. right? he mentioned it in 2011. michael what on god's green earth, if you will -- i didn't even mean that -- >> right. >> does he gain from leaving out the words? >> i don't know what he gains.
poll after poll shows in terms of a priority as an issue, american voters -- and the most recent is a pew poll they rate climate change very low on what matters to them. it is implicit in the president's energy policy but if you look at his energy policy, and his initiatives on green ennergy, i think our big -- may fall under that umbrella. but i don't understand why he doesn't say it other than that. >> he already said it in 2011. all he can do is -- off his allies. so what is the logic in it? >> i think 2009 was really his push, and i think now it being an election year he might be rolling back on maybe some of the rhetoric about climate change. because he knows there are
issues like coal and carbon trading that don't necessarily play as well. so i think some of this might be he's not trying to talk about it as much as in previous years. >> all right. thank you guys. appreciate appreciate. . when we come back there's a bill where government and private companies would get together to violate our rights. join washington. >> sopa allows internet services for subtle private information and releasasasasasasasasasasasasasasasasasasasasasasasasasasasasasas
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the stop online piracy act, we seem to have defeated that. this is the new disastrous bill regarding the internet. it's call cispa. here is what the author says is so telling. >> we have palo alto and new york city on the same bill. the high-tech community and the financial services community all agreeing that this is the right am approach. and there was a thing that came up that caused quite a stir. we have been able to put both of those parties in the same room and everybody got along, knowing that this provides us the first step. >> i love that little speech because it gives you great
incite into how politicians think. he had problems with sopa and he didn't want to mention the name. but the genius was they brought the internet companies in and said hey, do the spying with us. and now facebook and google are in favor of the bill. and he doesn't even think about the voters. he thinks i got this covered, man. mission accomplished. there are at least some legislatures oppoised one is ron paul. >> cispa encourages some of our most successful internet companies to act as spies? one segment of the economy where americans still lead. >> there is a lot i disagree with on ron paul but this is not one of them. he is absolutely right, and one of the few politicians left in
the country who cares about the constitution. it allows the government and private companies to share private information. so you put your information on one of these sites both the government and those companies can take it without a warrant or subpoena. the military has access to that same primate information, so they can pedal it off to the military. and the companies would be immune from criminal and civil liabilities. so they abias your privacy, you have no recourse. you can't sue them. you have no way of getting any redress whether it's from private corporations or the united states government. it is a horrible bill and one you should fight aggressively against online and wherever. call your local politicians. contact them in any way you can and stop cispa. one of the people speaking out
against this is the legislative counsel for the aclu. thank you for joining us. and tell me what you think is the primary problem of cispa. >> thanks for having me. the number one problem with cispa is it allows companies who hold sensitive information to share it with the government. it can be ever from the content of our emails to the website we visit. and the companies don't have any responsibility to pull out our sensitive and private information. and they can send it directly to the military the national security agency and we saw after 9/11 the last time the companies and the nsa were allowed to collect information, we ended up with the wiretapping program. >> and i remember they said we're just going to use it to
listen to al-qaeda. what is the worst case of abuse? >> the worst case scenario is the big companies who control the backbone where our communications go over are going to share things directly with the nsa. they are going to use it for other purposes and eventually keep it forever because there is no requirement to destroy any of this information that they collect. >> all right. it is scary indeed. michelle thank you so much for joining us on "the young turks." >> thank you. >> when we come back john lubbock goes after the president, and i go after john j ck ckd570currttvm00782